The article “Kanye West Is No Longer a Billionaire After Losing $1.5 Billion in a Matter of Weeks: Report” was first published on Consequence.
According to Forbes, Kanye West has caused himself to lose more than $1.5 billion as a result of the prejudiced comments he has made over the past several weeks, which forced Adidas to cancel their agreement.
He started the year with an estimated net worth of $2 billion, and after the release of Donda 2 and a summer of high-profile fashion rollouts, that amount had undoubtedly increased. Ye, as he is now legally known, began the year with an estimated net worth of $2 billion. But a significant portion of that value originated from branded relationships, all of which he has severed ties with at this point.
It was in September when he and Gap came to an agreement to discontinue the Yeezy Gap line; this was before antisemitic posts led to limitations being placed on West’s social media accounts. After that, J.P. Morgan Chase cut off Ye’s banking services as more and more reports emerged claiming that Ye had glorified Hitler. In October, he also circulated the conservative lie that George Floyd, who was killed by a police officer, had actually passed of a fentanyl overdose and wore clothing that supported the White Lives Matter movement. He did this while simultaneously wearing White Lives Matter clothing. The family of Floyd is currently seeking a judgment of $250 million.
The downfall of Adidas is merely the most recent domino in a chain reaction that has been building up steam for quite some time. He had accused the company of stealing his designs and selling non-partnered merchandise in markets such as China, and in an effort to free himself from the contract, he tried to intimidate executives by showing them pornography. He also accused the company of selling non-partnered merchandise in markets such as China.
According to Forbes’ estimations, the collaboration with Adidas was worth approximately $1.5 billion to Ye. It is currently estimated that he has a net worth of approximately $400 million at this time.
On October 25th, Gap issued a statement that seemed to imply that they were trying to hurry up the process of their divorce from Ye. According to what was written on the company’s website, “We are taking urgent actions to remove Yeezy Gap items from our stores and we have shut down YeezyGap.com.” According to our core beliefs, antisemitism, racism, and hate in any form are unacceptable behaviors that will not be permitted under any circumstances. We are forming partnerships with organizations that are working to eliminate bigotry and discrimination on behalf of our clients, our workers, and our shareholders.
Even individuals who are accustomed to dealing with difficult customers are leaving West. In order to assist him in getting his enterprises back on track, he retained the services of Camille Vasquez, the attorney who had been successful in helping Johnny Depp win his defamation action against Amber Heard. However, she terminated his employment after a little over a week because he refused to apologize for his antisemitic remarks. The only potential partner that appears to be interested in the right-wing platform that is failing, Parler. You are welcome to take another look at our timeline of his antisemitic utterances at this time if you so like.
